Regulatory Bodies (including the DFSA) apply high standards with regard to the knowledge and experience of Compliance Officers and Authorised Individuals. According to the DFSA regulations an Authorised Firm must have a Compliance Officer/ MLRO (Authorised Individuals) who is a resident in the UAE, to operate in or from the DIFC.

It can be challenging to find a suitable Compliance Officer, who meets the high standards set by the DFSA and at the same time integrates well within your company culture. In cases where Compliance officers may have limited local regulatory exposure Total Solutions can offer a “Mentoring Agreement”. The duration and extent of the agreement is based on the outcome of an assessment, during which we identify gaps in knowledge and experience and recommend development needed by the individual in question.

A personal learning plan will be drafted to ensure that your Compliance Officer gets familiar with the DFSA rules and regulations and the compliance culture. Our experience has shown that a “Mentoring agreement” can enhance your potential Compliance Officer’s skills and facilitate the regulatory approval process.

Our other Compliance Solutions include: